Acorda To Buy Civitas, Gains Parkinson’s Disease Drug
Acorda Therapeutics (ACOR) stock popped after the biotechnology company agreed to buy privately held Civitas Therapeutics for $525 million, gaining access to drugs in late development used to treat Parkinson’s disease. Acorda obtained global rights for Civitas’ experimental drug, CVT-301, an inhaled dry powder formulation. CVT-301 is used to treat certain episodes, such as inability to move, in patients with Parkinson’s disease. The acquisition